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The evolution of lending has always reflected the evolution of information. In earlier decades, credit officers relied primarily on manual scrutiny of applications and physical verification of borrower credentials. Today, the lending environment has shifted dramatically. Automated underwriting systems have become mainstream and terms such as algorithm, AI and automation are now embedded in daily […]
Credit Bureau assigns a 3 digit number called as credit score which ranges from 300 to 900. It serves as a numerical representation of a borrower’s creditworthiness, reflecting their financial behaviour. Lenders utilize this score to assess the risk associated with granting loans. A high credit score can lead to better loan terms, including lower […]
The Most Important Terms and Conditions (MITC) and the Key Facts Statement (KFS) are crucial documents within the lending framework, provided to borrowers prior to availing finance. These documents are mandated by the Reserve Bank of India (RBI), both documents outline the borrower’s obligations and ensure they have a clear understanding of the terms and […]
